Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0214%/8h= +23.4% APRpaid last 24h +0.069%

Price spread now: Nado against edgeX+0.039%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.039%, 7d avg 0.000%

Together, before fees−0.092%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Nado is 0.038% dearer against edgeX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	311.50	0.0100	pay 0.0050% / 4h	3h 07m	$41K	$313K	10x
Short	Nado TAO-PERP	311.62	0.0314	get 0.0039% / 1h	7m 09s	$786K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee edgeXbpFee NadobpOrdersPrice spread, now +0.039%Rate

Funding earned: $44.94
Price spread: +0.039% → 0.000%: $3.84
Slippage, 4 orders: −$17.22
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $15.55
Costs to cover: 0.332%
Break-even: 4.6 days

Slippage from edgeX: live order book, 46 min ago; Nado: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy edgeX live order book, 46 min ago	4.77 bp	9.3 bp −$9	24.3 bp −$243	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	0.96 bp	7.7 bp −$8	19.6 bp −$196	doesn't fit	doesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.98	+0.155%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.29	−0.065%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0009%	1h	311.92	+0.136%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.01	+0.165%	$48K	$662K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.50	+0.001%	$2K	$857K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.20	+0.225%	$355K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.12	+0.201%	$89.1M	$502.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	+0.226%	$26.0M	$121.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.70	+0.065%	$13.4M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.04	+0.174%	$103.3M	$145.8M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	311.93	+0.139%	$17.5M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.75	+0.081%	$35.0M	$56.6M	50x	as long as short
edgeX TAOUSDClong	+0.0100%	4h	311.50	long leg	$41K	$313K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	311.94	+0.142%	$530K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.33	−0.054%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.63	+0.043%	$81K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.52	+0.007%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.67	+0.056%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.54	+0.014%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.72	+0.072%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.79	+0.095%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0105%	4h	311.92	+0.135%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0113%	4h	311.69	+0.062%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0135% / S +0.0137%	1h	311.17	−0.105%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0167%	8h	312.01	+0.165%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.34	+0.271%	$101K	$369K	5x	as long as short
BingX TAO-USDT	+0.0256%	4h	311.97	+0.152%	—	$33.8M	—	as long as short
Bybit TAOUSDT	+0.0272%	4h	312.28	+0.251%	$67.4M	$150.9M	50x	as long as short
Extended TAO-USD	+0.0304%	1h	311.88	+0.123%	$909K	$2.4M	25x	as long as short
Nado TAO-PERPshort	+0.0314%	1h	311.62	+0.039%	$786K	$2.2M	10x
Variational Omni TAO	+0.0325%	4h	312.94	+0.462%	$5.5M	$10.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.18	+0.219%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	311.70	+0.065%	$310K	$711K	5x	as long as short
Hyperliquid TAO	+0.0461%	1h	312.15	+0.208%	$91.6M	$108.0M	5x	as long as short
Bulk TAO-USD	+0.0468%	1h	310.75	−0.240%	$165K	$333	10x	as long as short
Backpack TAO_USDC_PERP	+0.0480%	1h	312.01	+0.165%	$310K	$885K	10x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	312.31	+0.261%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0493%	1h	311.84	+0.111%	$12K	$1.8M	25x	as long as short
Lighter TAO	+0.0608%	1h	312.32	+0.264%	$1.5M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.54	+0.015%	$358	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.10	+0.195%	$442K	$648K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.08	+0.187%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.661%	$23K	$2K	12x	as long as short